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Business news

11 Mar 2015

Foreign real estate developer envisages Minsk as major European business center

MINSK, 11 March (BelTA) – Minsk has all the preconditions for becoming a major European business center. It will open up great opportunities for investments in real estate. The opinion was voiced by Gary Burrows, Deputy Director of the company IOOO Zomex Investment, during the opening of the Belarusian booth at the international real estate show MIPIM. The booth was organized by Zomex Investment. The real estate show MIPIM is scheduled to take place in Cannes, France on 10-13 March, BelTA has learned.

“Minsk’s vigorous development in the last few years is a vivid testimony to what I’ve said,” stressed the representative of Zomex Investment, which is part of the group of companies Dana Holdings, one of Belarus’ largest real estate developers.

As examples Gary Burrows mentioned the promising projects that Dana Holdings is implementing in Minsk now. In particular, the number included the multifunctional residential compound Minsk Lighthouse (Mayak Minsk). It is a contemporary city block, which is being built in a prestigious part of the Belarusian capital close to the National Library of Belarus. Domestic and foreign investors also know well the Minsk Mir project, which comprises a business center, the administration and retail complex Golden Clouds, a sport, entertainment, and retail complex, a multifunctional entertainment complex with its own hotel, office premises, underground parking lots, a multifunctional center, sport facilities, parking lots.

The list goes on and on, said Gary Burrows. “I am confident that everyone can find a project to their liking in Minsk,” said the executive.

The group of companies Dana Holdings has been representing Belarus at MIPIM in Cannes, France since its foundation in 2008. Following the established tradition, this year Dana Holdings uses the Belarusian booth to present its projects and capabilities of Belarus’ entire civil engineering industry. During the expo a reception involving Ambassador of Belarus to France Pavel Latushko was arranged. The Ambassador outlined the investment potential and appeal of Belarus.

According to Gary Burrows, the projects presented in the Belarusian booth have already attracted the attention of potential investors and partners. “We plan a series of negotiations that, we hope, will be able to attract additional funding and new players to the Belarusian real estate market,” he noted.

The international investment and civil engineering group of companies Dana Holdings (Switzerland) is represented in Belarus by three main divisions: IOOO Zomex Investment, IOOO Dana Astra, and SOOO Belinte-Roba. It is one of the country’s largest real estate developers. The group of companies is busy building multifunctional complexes in the city of Minsk such as Minsk Lighthouse (Minsk Mayak), Minsk Mir, Vivaldi, Chaikovsky, Rakhmaninov and other ones. At present Dana Holdings’ portfolio of investment and construction projects includes over 9 million m2 of real estate with the total value of $27 billion.

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